I’ve retired twice.
Years ago my original target age was 55. Circumstances changed extending that. I had the opportunity to get a redundancy/ early retirement package that optimised my financial benefit from the company. Basically a no-brainer. We had a spreadsheet that calculated this optimum age/service combo. If within 2 years of this it was a good choice if available. Took it aged 52 with the plan to get another job of lesser responsibility to allow savings growth. Did some part time work for Mori whilst waiting to start a job in our police ops on 999/101. Stressful? You might think? Not really. Yes, some calls were but managed well. Finances boosted by this job and my second and final retirement was at 60, 9 years ago. I now have 4 pensions. State plus 3 occupational from jobs in between. Top up from investments monthly gives a good income.
A lot depends on your attitude to life. Wait too long and you have less time left to enjoy life without work. I know of people waiting too long and not surviving long enough to do what they had planned. It is a big change but one you shouldn’t be afraid of provided you have planned in advance. This includes finances and your lifestyle targets ( travel, hobbies etc).
I bought a Morgan whilst still working as an early step. Planned a house move to a good location ( local), developed hobbies.
Does your employer offer a pre-retirement planning option? Mine did and it helped open up my mind to options. Hence the first retirement being taken and another job opted for.
